World Central Banks
The European Central Bank expanded its pandemic emergency purchase programme by €600 billion to a total of €1.35 trillion.
Policymakers also said that PEPP proceeds will be reinvested at leastt until end-2022.
The ECB left its key interest rates unchanged
but lowered the interest rate on an emergency loan program for banks (TLTRO III) and offered a new series of non-targeted pandemic emergency longer-term refinancing operations (PELTROs) to provide extra liquidity to banks.
The ECB launched a new €750 billion asset purchase programme
For counter the serious risks posed by the outbreak and escalating diffusion of the Covid-19
The European Central Bank left the key interest rate on the main refinancing operations steady at 0%
The marginal lending facility was also kept at 0.25% and the deposit facility at -0.50%.
European Central Bank
http://www.ecb.europa.euThe European Central Bank is a financial institution of the European Union, regulating the monetary policy of the member countries of the European Union. The Bank was founded in 1998; the headquarters is located in German Frankfurt am Main.
The ECB defines key credit and deposit rates, bears responsibility for emission of euro, and regulates foreign exchange reserves. The key interest rate of the ECB is the interest rate on credits granted by the Central Bank to commercial banks.
Apart from the interest rate on credits, the ECB specifies the deposit interest rate which has been below zero for several years already. Placing money on deposit in the ECB, commercial banks are prepared to collect a smaller amount at the end of the term. The negative rate was introduced to deal with the excessive caution of commercial banks when investing in the economy.
As far as its activities are concerned, including changes in interest rates, the ECB must annually report to the European Parliament, the European Commission, Council of the European Union and the Council of Europe.